What Really Works From One Professional - page 84
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Chat Room
Is the chat room still on ? And if it is, is there any way I can gain access to it? I am very excited about this system, and I would love to explore it to its fullest extent.
Diego
JD, with all the respect to you and others. Anyone can post the charts after the trade and identify the patterns. I have not seen anywhere here any point of reference to your trade decissions. There are a lot of charts after the trade. I do believe you are a very good trader. But I do not see any attempt to make this system availble to other.
No, I was not part of a chat room. But where are the others who had attended? Why they do not post here? They do not have to report 100 pips day every time they post, like you claimed in the post yesterday. But occasionally they could have supported this thread.
Does your system work? Probably yes? Does it work for anyone but you? Probably yes. Has anyone else posted here with their positive results? The answer is probably no. Does anyoneelse have a good handle of your system? I have not seen it.
If your desire here is to help others then posting the charts after the trading day with no explanation is not effective. Perhaps, I am being wrong and it benefits the ones who attended the chat meetings with you.
Thank you anyway! I have learned some psychology at the firs part of the thread and that was very valuable.i just cant be bothered any more, good luck with your trading....
@MainPIP:
It is because no one is able to trade this "system" like jonnydenver69, even not the chat room users. I was one of them.
@jonnydenver69:
Can you show us the "V" today? Thank you. All I can see is the harmonic trading pattern indicator, that is not part of your main strategy.
@jonnydenver69: Can you show us the "V" today? Thank you. All I can see is the harmonic trading pattern indicator, that is not part of your main strategy.
Let's not be so hasty. The "V" has been written about by Molly Lien I believe, who is a commercial forex trader. Even JD says it's not 100%. Also, you have to remember that some days Cable only has a 40-60 pip range, so on some days there might not be enough activity for the V to be noticable or useful.
I haven't really seen anything he's posted that is invalid. I've looked at his charts and seen Murray Lines, which are useful, Stochastic slingshots, which are also useful, etc etc.
Remember, you might never be able to trade like JD69, and JD might never be able to teach exactly how he trades. Can he rip out his gut, his instincts, and give them to you?
You're a different person who sees different things when you look at the chart. The important thing is to create a strategy which works for you, which requires you to really study the market instead of blindly following every self-annointed prophet (not directed at JD69) who posts to a messageboard with a system.
Instead of trying to become a replica of JD69, take from him what you find useful and move on. I find the V useful. I'm studying it more in depth, doing my stats, and when I've got a handle on it, it will become another tool in the box.
Seriously, he's got one thing spot-on, you guys all seem to think an easy way out exists. Stop thinking of the market as crossing squiggly lines and really rip apart the mechanism.
Morning V
Just my interpretation of today....
"first two moves from the open"
484 - 536 = 52 pips (then stall and reverse)
536 - 484 = 52 pips
-------------------
104 pips
"it's 100 pips, it's got to be"
Still clueless to be honest, missed it myself until I saw it after it had formed sadly....
@supernoob:
Thank you. I was thinking the same.
I have only one more question to jonnydenver69: If a software is able to recognize an asymmetrical pattern like the "V" (he mentioned his brother has a software and backtested it 3 years back), why is this software not able to trade it?
I think part of the problem is that JDs system of trading is of a high level, his understanding of the markets has taken years. It is important that if you are starting out you or not making a profit you keep it simple.
There are two other threads on here both profitable, both with rooms, which people can use to earn money and gain experience. Once you have achieved this come back to JDs system. As with JD the others two are very helpful.
By the way I am just starting to make money after many years of trying, but only a little. Good trading all.
Gordon
I think part of the problem is that JDs system of trading is of a high level, his understanding of the markets has taken years. It is important that if you are starting out you or not making a profit you keep it simple.
There are two other threads on here both profitable, both with rooms, which people can use to earn money and gain experience. Once you have achieved this come back to JDs system. As with JD the others two are very helpful.
By the way I am just starting to make money after many years of trying, but only a little. Good trading all.
GordonOK, the V....At the open its a battle, traders like to see where the overhead supply is that together with the demand which is obviously below.....The v is the first two significant moves of the day.... THE OPENING RANGE. This week has been slow due to traders readjusting portfolio size and also trying to out think the feds comments as well, so all these factors do have to be considered....
You have to bear in mind that i have been trading along time, my grandfather was a trader, so was his father, my father is a trader and my brother is a trader...I cannot teach perception its an individual thing....I had a friend sit and trade with me for months and he could not see what i see. It was frustrating to say the least...
I know someone posted saying "well its easy to post charts after its happened" if thats the case did he pick out the head and shoulders reversal on the 5 min chart before i posted it earlier.. do you think he traded that pattern, i think not....
You can all do this, but your own way, take from it what you can..pattern recognition is there, i also use gartleys and some scott carney with elliott wave......its all price pattern analysis at the end of the day....its all about patience, waiting for the right move... today i made 2 trades, thats it....i have never made more than 4 trades in a day...momentum, its all about picking up the pace, traders look for momentum, traders shorting, traders bailing out, whose going to short cover and how many before the ball stops rolling...
OK, the V....At the open its a battle, traders like to see where the overhead supply is that together with the demand which is obviously below.....The v is the first two significant moves of the day.... THE OPENING RANGE. This week has been slow due to traders readjusting portfolio size and also trying to out think the feds comments as well, so all these factors do have to be considered....
You have to bear in mind that i have been trading along time, my grandfather was a trader, so was his father, my father is a trader and my brother is a trader...I cannot teach perception its an individual thing....I had a friend sit and trade with me for months and he could not see what i see. It was frustrating to say the least...
I know someone posted saying "well its easy to post charts after its happened" if thats the case did he pick out the head and shoulders reversal on the 5 min chart before i posted it earlier.. do you think he traded that pattern, i think not....
You can all do this, but your own way, take from it what you can..pattern recognition is there, i also use gartleys and some scott carney with elliott wave......its all price pattern analysis at the end of the day....its all about patience, waiting for the right move... today i made 2 trades, thats it....i have never made more than 4 trades in a day...momentum, its all about picking up the pace, traders look for momentum, traders shorting, traders bailing out, whose going to short cover and how many before the ball stops rolling...JD,
thank you for your response. That was actually very helpfull.
I was actually the one who made a statement about Head and Shoulder Pattern. You are right I did not trade it, because I had already in the trade from 520, which I had entered it becauase I had perceived the momentum for shorting after the news. So I only made one trade today but it was good for 120 pips, Can I do it evry day? No And that is why I am on this forum.
You are right you cannot transplant your perception of the market, your experience and your love of trading. But there are a lot of things you can do to help others like you just did in the previous post. You had some fundamentals persepcitve that you were keeping your eye on, you did not use elwave, mtp, and your indicators. As far as I can see this is the first time you brought the price patterns too. Gann, Elliott, Woods, Dinapoli all have been mentioned in the thread. So perhaps the system is so complex and subjective that is overly difficult to learn for anyone. But then you keep saying that is is easy and anyone can do it. If you want to help others, perhaps you could listen to them. At this stage this system is very vague with many unknown and moving pieces. You can contribute by defining the pieces that you have in your toolbox. That could greatly hewlp others.
Like I said you are a very good trader and it appears that you want to help others who do not mind all the hard work. Now trhe question is, do you want to become a better teacher?
With all the respect
MainPIP
Trading results
Hi guys
After reading the last pages of this thread I decided to post some results from my trades and to explain what I do and how I do it. I'm not trying to brag or anything, just want to provoke a practical discussion on trading the JD system. I'm still very far from understanding all the aspects of this trading model JD is using, that's why I'm trying to get my hands on every information possible about Elliot Waves, Gann, Murrey math and so on and every spare minute I have I use on reading and educating myself. The fact is that ever since I found this thread I started making steady profit, using the little understanding of Forex and JD's model I have and the template JD was so generous to share with us.
WHAT I DO
I use a demo account with North Finance with 50 000 USD virtual deposit and 1:100 leverage. Every trade I enter is with 10 lots and I never close a losing trade. My reckoning and my experience from the previous months tought me that if you are making steady profit on a daily basis the possibility of a margin call decreases, and the market sooner or later gets back to the levels of the losing trades thus making them winners. I know this contradicts very much with the normal trading methodology and money management techniques but until I get a margin call and a steady growth of the account ballance this is ok with me
TRADING "METHOD"
I am monitoring the price constantly, since my work involves sitting in front of the PC for 12 hours every day. I am using TF 30 and I'm switching regularly to the other major TF's to check the mini and daily trends and to decide in which direction to trade. So basically I'm looking for a change in the direction of the trend and I put a 10 lot order on every change. When I see the price losing momentum or reversing I close the trade taking whatever profit I can squeeze out of it.
I'm using a modified JD's template. The modifications were removing Murray Math lines and the banding MA's to make the template less cluttered.
Every comment is welcome and will be very much appreciated.
Attached are my trading results since Friday.
To sum them up:
Friday (21/07/2006) balance: 50 000
Today (25/07/2006) balance: 71 678